The Trans-Pacific Partnership trade deal has been made public for the first time. Bringing together 12 Pacific Rim countries, the Trans-Pacific Trade partnership (TTP) is now the world’s largest trade agreement. It includes the likes of Japan and the US, however it excludes China.
The deal, which took five years of tense discussions and debates, was made last month. The text consists of about 60,000 pages and was realised first by the government of New Zealand.
Critics have said the deal is “biased towards corporations, and does not cover climate change concerts among several other issues” (1). However, Australian Trade Minister Andrew Robb announced that the Australian government “led the charge” to ensure the TTP had safeguards in place for environmental policy (2).
Last month presidential candidate Hillary Clinton said she was against the TTP although on Thursday US President Barack Obama announced he intended to sign the deal.
The member countries for the TTP account for around 40% of the global economy and include Australia, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam (1).
The deal is designed to set common standards in trade for all the countries included as well as cut off trade tariffs.
- bbc.co.uk “Trans-Pacific Partnership: vast trade deal made public”
- guardian.com “Andrew Robb defends TPP after full release of trade deal document”